Dublin, July 07, 2021 (GLOBE NEWSWIRE) -- The "Anesthetics Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
The global anesthetics market is expected to grow from $5.7 billion in 2019 to $9.4 billion in 2020 at a compound annual growth rate (CAGR) of 64.2%.
The anesthetics market consists of sales of drugs that cause a relaxing sensation to calm patients during surgery and remove the sensation of pain. These drugs are used to give a sense of calm to patients through muscle relaxation which also causes amnesia. The anesthetics market is divided into general anesthetics, regional anesthetics and local anesthetics.
This growth is mainly due to the COVID-19 outbreak and the neuroinvasive nature of the virus. The CNS is more prone to the viral infection. The virus affects the senses of smell and taste and therefore it is important to curb the interaction between the viral protein and the human receptor, and this factor is driving the demand for CNS drugs. The market is then expected to grow at a CAGR of 7.3% from 2021 and reach $6 billion in 2023.
North America was the largest region in the anesthetics market in 2017, followed by Europe. This region is expected to remain the largest during the next five years. The anesthetics market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The increase in the number of surgeries is one of the major drivers of the anesthetics market due to the applications of anesthetic drugs during surgical procedures. This rise is mainly due to increasing incidents of injuries and accidents that require surgeries. For example, according to WHO's Global status report on road safety 2018, the number of road accidents reached 1.35 million in 2016, with approximately 64 deaths for every 100,000 vehicles.
Stringent guidelines and regulations imposed by regulatory bodies are one of the important restraints for the anesthetics market. These guidelines include conducting clinical trials of newly developed drugs, standards related to patient's safety, and monitoring of patients under anesthesia. Complying with these guidelines and getting regulatory approvals consumes a lot of time and negatively impacts the growth of the anesthetics market. For example, the American Society of Anesthesiologists impose various standards that apply to anesthesia care and monitoring of patient including standards for pre-, basic- and post-anesthesia care and monitoring.
Increasing consolidation in the form of acquisitions is an emerging trend in the anesthetics market. This is mainly due to high level of R&D and intellectual property (IP) investment needed to establish companies that manufacture anesthetic drugs. In this regard, mergers and acquisitions are considered as time and cost-effective methods. Some of the notable acquisitions in the recent years include acquisition of MyoScience by Pacira for $220 million in 2019, acquisition of Claris Injectables by Baxter for $625 million in 2017, acquisition of GSK's anesthetics portfolio by Aspen for $238.7 million in 2017, and acquisition of Hospira by Pfizer for $17 billion in 2015.
Major players in the market are Baxter, Abbott Laboratories, AstraZeneca, F. Hoffmann-La Roche AG, B. Braun Melsungen AG
Key Topics Covered:
1. Executive Summary
2. Anesthetics Market Characteristics
3. Anesthetics Market Size And Growth
3.1. Global Anesthetics Historic Market, 2015-2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Anesthetics Forecast Market, 2019-2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Anesthetics Market Segmentation
4.1. Global Anesthetics Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- General Anesthetics
- Local Anesthetics
4.2. Global Anesthetics Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- General Surgeries
- Plastic Surgery
- Cosmetic Surgeries
- Dental Surgeries
- Other Applications
4.3. Global Anesthetics Market, Segmentation By Route of Administration, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Inhalation Anaesthesia Drugs
- Intravenous Anaesthesia Drugs
- Topical Anaesthesia Drugs
4.4. Global Anesthetics Market, Segmentation By Local Anesthetics, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Bupivacaine
- Ropivacaine
- Lidocaine
- Chloroprocaine
- Articaine
- Benzocaine
- Other Local Anesthesia Drugs
4.5. Global Anesthetics Market, Segmentation By General Anesthetics, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Propofol
- Sevoflurane
- Desflurane
- Dexmedetomidine
- Remifentanil
- Midazolam
- Other General Anesthesia Drugs
5. Anesthetics Market Regional And Country Analysis
5.1. Global Anesthetics Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Anesthetics Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Companies Mentioned
- Baxter
- Abbott Laboratories
- AstraZeneca
- F. Hoffmann-La Roche AG
- B. Braun Melsungen AG
- AbbVie Inc.
- Hospira
- Aspen
- Boehringer Ingelheim International GmbH
- Eisai Co. Ltd
- Fresenius SE & Co. KGaA
- Hikma Pharmaceuticals PLC
- PAION AG
- Pfizer
- Hameln Pharmaceuticals
- Maruishi Pharmaceuticals
- Pacira Pharmaceuticals Inc
- Piramal Group
- Novartis International AG
- MYLAN NV
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